Yes, contract law only works for contracts that parties agree to.
Contract law can't force companies (nor consumers) to enter into contracts they don't want to be in. That's the whole point.
Have a look at eg https://www.apple.com/sg/support/professional/enterprise/ or the equivalent for Dell or Microsoft etc. All those companies already have programs where you can give them money in return for long term support and contractually guaranteed updates etc. I'm sure you can find similar programs for IoT suppliers.
Some people decide to pay for those programmes, many people don't. I don't see why we should force everyone into buying the equivalent of extended warranties, that they evidently don't want. This kind of stuff isn't free for companies to provide, you know.
Contract law can't force companies (nor consumers) to enter into contracts they don't want to be in. That's the whole point.
Have a look at eg https://www.apple.com/sg/support/professional/enterprise/ or the equivalent for Dell or Microsoft etc. All those companies already have programs where you can give them money in return for long term support and contractually guaranteed updates etc. I'm sure you can find similar programs for IoT suppliers.
Some people decide to pay for those programmes, many people don't. I don't see why we should force everyone into buying the equivalent of extended warranties, that they evidently don't want. This kind of stuff isn't free for companies to provide, you know.